By Lucy Adautin
Russia will implement a six-month embargo on petrol exports starting March 1 to guarantee sufficient fuel supply for domestic consumption, announced the government on Thursday.
Despite ranking as the world’s third-largest oil producer, Russia has faced intermittent fuel shortages since last summer due to increased demand and refinery maintenance.
Wholesale gasoline prices have surged since the beginning of the year, compounded by frequent drone attacks on oil refineries in Ukraine.
“Restrictions on petrol exports are introduced for six months, from 1 March to 31 August,” the government said in a statement Thursday.
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It said the move was aimed at “maintaining a stable situation on the fuel market during a period of high demand associated with spring agricultural works, the holiday season and scheduled repairs of oil refineries.”
The Kremlin is also determined to prevent fuel shortages in the domestic market before next month’s elections, where President Vladimir Putin aims to extend his political influence.
Last year, Russia imposed a comparable export ban on diesel and petrol after fuel shortages hindered grain harvesting for farmers in certain regions.
